Cement News tagged: Corporate
Lafarge Africa posts US$9.5m quarterly loss as price squeeze bites
Nigerian-based Lafarge Africa has seen revenues fall by 29 per cent to NGN52.4bn (US$263m) in the first quarter of 2016, leading the company to record an after-tax loss of NGN1.9bn (US$9.5m). According to Bloomberg, Lafarge – which did not comment on the results – had said late last year that pressure on prices and a market slowdown were presenting challenging trading conditions in Nigeria ...
Ambuja Cements reports 4.4% profit fall
India’s Ambuja Cements has reported a 4.4 per cent fall in net profit, which reached INR3.038bn (US$45.6m) in 1Q16. In the first quarter of 2015, net profit reached INR3.177bn. The company’s income has decreased by 0.89 per cent at INR25.809bn for quarter under review as compared to INR25.581bn for the quarter ended 31 March 2015. Net sales declined slipped by 0.3 per cent to INR24.18bn in 4...
Australian cement companies fined AUD18.62m
After the Australian Competition and Consumer Commission (ACCC) brought the proceedings against four Australian cement manufacturers in 2008, the Federal Court has finally ordered the four cement companies pay more than AUD18m (US$13.73m) in penalties for anti-competitive conduct. Cement Australia Pty Ltd, Cement Australia Queensland Pty Ltd, Pozzolanic Enterprises Pty Ltd, and Pozzolanic In...
Vicat sees 1Q16 revenues reach EUR554m
In their quarterly statement for 1Q16, Vicat announced that turnover improved by 3.3 per cent YoY to EUR554m (US$629m), which represents an underlying advance of 6.5 per cent. Cement turnover was up by 1.5 per cent to EUR346m (US$392m), as cement shipments rose by 13.8 per cent to 4.83Mt. The turnover in concrete and aggregates was 7.7 per cent ahead at EUR204m (US$231m), which represents a...
CRH interested in HeidelbergCement US and Belgian units
CRH has expressed an interest in acquiring HeidelbergCement’s US and Belgian assets. The Germany-based company is expected to divest in such units to comply with the requirements set by competition authorities for its acquisition of Italcementi. "US cement is of interest to us and we're fully aware of the asset that may spin out of the potential acquisition," Mr Manifold said. "With regards...
CRH 1H16 earnings to reach US$1.1bn driven by US and Asian markets
In its earnings statement for 1Q2016, CRH predicts that EBITDA will rise to EUR1bn (US$1.1bn) driven by growth in the United States and the Philippines. This is around five per cent up on last year, with the final figure to be announced when 1H2016 results are published on 25 August. Sales for 1Q2016 itself are up nine per cent YoY, with US sales up by 22 per cent and Asian sales up 12 per ...
Pakistan: Maple Leaf reports earning up 49% in 9MFY16
Maple Leaf Cement Factory Limited has reported earnings of PKR3.5bn (US$33m) in 9MFY16, up 49 per cent YoY. Maple Leaf’s sales rose 12 per cent YoY to PKR16.93bn (US$162m) for 9MFY16. Distribution costs and administrative expenses were also up slightly, reaching PKR1.3bn (US$13m). Earnings growth was driven by higher volumes, falling energy costs and a 52 per cent YoY decline in finance ...
Loesche recertified to ISO 9001 standard
German equipment manufacturer Loesche has announced that it has been recertified to ISO 9001:2008 standard, maintaining the qualification that it first achieved in 1998. Angelika Wollenweber, Head of Quality Management, Standards & Regulations, stated: "A functioning quality management is indispensable. Our customers expect innovative engineering, precise plant construction and reliable ser...
CRH faces investor opposition over CEO pay
Institutional Shareholder Services (ISS) has told investors in CRH to vote against the remuneration plan for Albert Manifold, the firm’s chief executive, according to reports by thisismoney. The remuneration package will be voted on by shareholders at the company’s annual general meeting (AGM) on Thursday (28 April). Mr Manifold, who is Ireland’s best-paid corporate leader, saw his pay r...
Dangote: 1Q2016 profits down 22% as volumes rise 70%
Dangote Cement has released its results for the year to March 31 2016. During this period volume sales grew 69.6 per cent to 6.4Mt, while profits slipped from NGN70bn (US$352m) to NGN55bn (US$276m). Price cuts in Dangote’s Nigerian home market meant that even as volumes climbed 45 per cent to 4.5Mt revenues increased more slowly, rising by 5.7 per cent to NGN107bn (US$538m). The firm estima...
Cemex offers to buy back up to $400 mln in debt
Cemex, Mexico, said on Monday it had launched an offer to buy back up to US$400mn of debt on senior note issues due to mature in 2018, 2019 and 2022. The company said in a statement the offer was for its 2018 floating rate notes, its 2019 notes bearing a 6.5 percent coupon and the 9.375 percent notes falling due in 2022. However, Cemex noted it would not buy back more than US$150mn of the 20...
Lucky Cement posts PKR9.61bn net profit in nine months
Lucky Cement Limited, Pakistan, reported net profit of PKR9.61bn (US$91.72m) for the nine months ended March 31, 2016, which is 3.3 percent higher than the same period last year. The company's net sales revenue increased to PKR33.49bn. The increase in net sales revenue was mainly attributable to increase in sales volumes. The local sales volume of the company during the current nine months ...
UltraTech profits rise 10% in 1Q16, operational costs cut
UltraTech Cement, India reported a 10 per cent YoY rise in consolidated profit after tax for the quarter ended March. The company reported a consolidated net profit of INR7230m (US$108.52m) against 6750m (US$98.63m) in the same period last year, due to a strong operational performance. Net sales in the same period rose 5 per cent to INR68.5bn, from INR65.17bn a year earlier. Total cement dem...
DG Khan Cement announces INR2.29bn profit, up 16%
DG Khan Cement on Friday announced a net profit of INR2.29bn (US$34.32m) in the third quarter of fiscal year 2015-16 (3QFY16), up 16 per cent compared to INR1.98bn in the same period of the previous year. Earnings per share jumped to INR5.25 from INR4.52 last year. This took the cumulative nine-month (Jul-Mar) earnings to INR6.38bn, up 18.7 per cent compared to net profit of INR5.38bn in the...
LafargeHolcim considering Vietnam exit
LafargeHolcim Group, a joint venture between Swiss Holcim Ltd. and French Lafarge Group, may withdraw from Vietnam due to oversupply of cement in the domestic market, said Nguyen Cong Bao, general director of Holcim Vietnam, a subsidiary of Holcim Ltd. The group had a meeting with the Vietnamese Ministry of Construction to notify of the group’ business plans in Vietnam for the coming time, Mr...
Lucky Cement land acquisition is legal
Land acquired by Lucky Cement, Pakistan, in a Buchal Kalan, Kallar Kahar, Punjab for a new cement factory has been declared legal, according to a report in The Express Tribune. Lahore High Court had stopped the Punjab government from acquiring the land in Buchal Kalan village for the cement factory after villagers mounted a legal challenge against the move. The petitioners has argued tha...